Saturday, 24 March 2012
Government Set To Promote Savings-Friendly Environment
Prime Minister Tigran Sargsyan attended the “20 years of independent economy in the Republic of Armenia” conference in Tsakhkadzor, co-hosted by the Student Council and the Youth Foundation of the Armenian Economics University.
The Prime Minister gave a lecture entitled “Post-crisis economic policy: challenges and opportunities.” The Premier dwelt on the root causes behind the crisis, the forms it has taken and the ways out of it.
The Prime Minister said a primary goal at this point is to promote a savings-collection-friendly environment in Armenia. “Those funds should be used to promote economic development. This is just what the pension reform is aimed at. Funded pension pools will be created to get in the savings of our citizens for future use,” Tigran Sargsyan noted.
According to the head of government, the excessive use of foreign loans is extremely dangerous, that is why an internal basis for economic development has to be built up over time.
Tigran Sargsyan noted that the States should keep to the principle of harmonious development, with “money redistributed from the rich to the poor,” which is a primary condition for elimination of inequality:” “The global economy is characterized by interconnectivity. Customs restrictions should be phased out to lead to trade liberalization and market consolidation worldwide,” the Prime Minister stated.
Tigran Sargsyan advised that strong with extra staff, the World Trade Organization is urging the States to abide by common rules so that the policy of integration may take its natural course.
The forum seeks to promote research activities, as well as to develop economic and analytical thinking among students. The conference was attended by more than 100 students and faculty representatives.
